The Facts are in, CNN reported in November 2009 that 1 in 4 homeowners in the United states today is "Underwater" and that 14.32% of all mortgages in the United States are 30 days behind on their payments.
Every day in my normal course of business, I find myself talking to one of those homeowners who are struggling with a mortgage payment that they can no longer afford. Unfortunately this conversation is more common than it was a year or two ago. The homeowner today is faced with having to make really tough decisions, usually under a lot of stress and often due to no fault of their own. These are the homeowners who have lost jobs due to layoffs, been transferred out of state in order to keep an income coming in, had an illness or death in the family and can no longer keep up with the house payment, or they were hard working builders who lost everything when the economy turned down. These homeowners in your community are your neighbors, friends and family members, they are faced with life changing decisions and often times are ashamed, afraid, and in despair because they do not know what to do, or where to turn.
It is up to us as a community to let our fellow man know that there is hope, that there are options, and that one can get back on their feet to rebuild a life and move forward. We have a responsibility to each other, to disseminate information to the public about programs that are available that enable a homeowner to keep their home and modify their monthly payment. The HAMP program “Home Affordable Modification Program“is one of the options available along with considering a short sale to avoid foreclosure.
You see, the economic problems of today are not just limited to that neighbor down the street that you have never talked to, or a distant relative who lost his job, a church member, or your fellow worker who had only been on the job for a year. The impact of someone losing their home is devastating to most homeowners and affects the neighborhood you live in, the community your work in, and the town you reside in. So if you, or someone you know is in financial distress and faces the possibility of losing their home, please encourage them to contact a Real Estate Professional there are options, and I personally want the community to know that there is hope and help along the way.